Pocketbook said it plans to use the funding to hire developers and marketers.

Pocketbook has a website and mobile apps that import transactions from a large selection of Australian banks and provide tools to show users where their money is going. It currently has 40,000 users.

“Pocketbook is a potentially disruptive player in the banking sector,” Levy said in a statement. “Pocketbook is focused on giving individuals more control of their finances and could end up being the new model for a consumer bank.”

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